Banner Corp. (BANR) Receives $50.00 Consensus Price Target from Brokerages
Shares of Banner Corp. (NASDAQ:BANR) have been assigned an average rating of “Buy” from the eight analysts that are currently covering the firm. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $49.83.
BANR has been the subject of several research analyst reports. Zacks Investment Research raised shares of Banner Corp. from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Friday. DA Davidson reiterated a “buy” rating and issued a $52.00 price target on shares of Banner Corp. in a research note on Tuesday, August 23rd. FBR & Co decreased their price target on shares of Banner Corp. from $50.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, July 29th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Banner Corp. from $49.00 to $48.00 and set a “market perform” rating for the company in a research note on Thursday, July 28th.
Hedge funds have recently added to or reduced their stakes in the stock. PineBridge Investments L.P. raised its stake in Banner Corp. by 4.8% in the second quarter. PineBridge Investments L.P. now owns 2,606 shares of the financial services provider’s stock worth $111,000 after buying an additional 120 shares in the last quarter. Mason Street Advisors LLC purchased a new stake in Banner Corp. during the second quarter worth $171,000. Baker Boyer National Bank purchased a new stake in Banner Corp. during the third quarter worth $225,000. MUFG Americas Holdings Corp raised its stake in Banner Corp. by 2.0% in the second quarter. MUFG Americas Holdings Corp now owns 6,108 shares of the financial services provider’s stock worth $260,000 after buying an additional 118 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in Banner Corp. by 125.6% in the second quarter. BNP Paribas Arbitrage SA now owns 6,889 shares of the financial services provider’s stock worth $293,000 after buying an additional 3,836 shares in the last quarter. Institutional investors and hedge funds own 77.17% of the company’s stock.
Banner Corp. (NASDAQ:BANR) opened at 43.92 on Wednesday. The company’s 50-day moving average is $43.90 and its 200 day moving average is $42.89. The stock has a market capitalization of $1.51 billion, a PE ratio of 23.06 and a beta of 1.63. Banner Corp. has a 12-month low of $35.39 and a 12-month high of $53.55.
Banner Corp. (NASDAQ:BANR) last posted its earnings results on Tuesday, July 26th. The financial services provider reported $0.67 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.05. Banner Corp. had a return on equity of 6.70% and a net margin of 13.96%. On average, equities research analysts expect that Banner Corp. will post $2.81 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Monday, October 10th will be paid a dividend of $0.23 per share. This is a positive change from Banner Corp.’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Wednesday, October 5th. Banner Corp.’s dividend payout ratio (DPR) is currently 47.18%.
Banner Corp. Company Profile
Banner Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its subsidiaries, Banner Bank and Islanders Bank. Banner Bank is a regional bank that offers a range of commercial banking services and financial products to individuals, businesses and public sector entities in its market areas.
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